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What is credit

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What is credit

Posted by Saifur Rahman 6 years, 6 months ago

CBSE > Class 11 > Accountancy

4 answers

Mohan Jha 6 years, 6 months ago

Those person who have standing for take the money with me is called credit.

Banak . 6 years, 6 months ago

Credit refers to an agreement in which lender supplies the borrower with money , in return for the promise of future payment with interest.

Sharmi Mandal 6 years, 6 months ago

The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. In a business,what goes out is credit.

Yogita Ingle 6 years, 6 months ago

A credit is an accounting entry that increases either a liability or equity account. Or decreases an asset or expense account. It is positioned on the right in an accounting entry.

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